VSP Engineering buys earthmoving equipment to the value of R288 000. The machinery depreciates at a rate of 16.8% per annum on a reducing balance basis. The company will be required in 6 years to upgrade the equipment. The machinery prices inflate by 12.8% per annum effectively. The company starts a sinking fund so as to ensure that the machinery can be upgraded successfully in 6 years. The old machinery is sold and the funds there of are also used to fund the upgrade. The fund offers an interest rate of 7% per annum compounded monthly. How much should the company invest into the sinking fund so as to ensure they will have sufficient funding to replace and upgrade the existing machinery?